Has anyone made this transition? How did you guys do it? Do I have to go get an MBA? I wanna switch out of tech and move on to finance. Consulting would have been fine but McKinsey is laying off and it’s really tough for that industry right now. IB seems to never have layoffs and the pay is even higher than SWE. What do I need to do? How do I get my foot in the door? TC: 180k
Not sure where you got the idea that IB doesn't have layoffs. There have been plenty of layoffs over the past few years, just not as many as tech, because there are much fewer investment bankers. https://www.buysidehustle.com/complete-list-of-investment-banking-layoffs-2023/ Nonetheless... First, do you want to get into investment banking, or do you want to work in a "high-finance" role at an investment bank or investment firm? If investment banking, there's only one tried-and-true way for someone who's a few years past undergrad to get into a good bank (bulge bracket or elite boutique, BB/EB): through an M7 / Top 10 / Top 15 MBA program. Other degrees like master in finance offer relatively little chance of getting into BB/EB IBDs. If high finance, as a SWE you can try to become a quant. If equity research or asset management, getting a top MBA + CFA can help. If hedge fund, private equity, or the like, you would need very strong experience in investing banking first. Btw, you do know what BB/EB IB hours are like, right? The norm is to work 80-120 hours a week, from Sunday midday to Friday night. Middle market (MM) hours are better, but the pay is significantly lower than BB/EB.
This is the only comment op needs to see
Yes the working hours are crazy in IB. Better try for consulting. It will pay better than SWE and offers better WLB than IB. Plus you get to travel around the world a lot, unlike IB.
Try the big4, they all have small IB division.
Big4 IBD pay is lower than Microsoft SWE pay.
Ouch
IB's layoffs are just as intense. With no business or finance background, you probably need to go through a MBA but then the ROI on it will be very low
Yeah the plan was to go for an MBA and then IB. I’ve just done my research and it looks like I’m better off as a SWE. Great work life balance unlike the 120 hours per week in IB, almost similar or even better pay dollar for dollar, and the freedom to do a startup or side projects whenever. Happy to stay!!
SWE career is better. You have to kill yourselves multiple times a day to do the job. You won't be proud of what you did to complete the task. You wont make significantly higher money. With so many frameworks distributed computing engineer is the new king in town
SWE will soon be replaced by AI and Devins
I’ve just done my research and it looks like I’m better off as a SWE. Great work life balance unlike the 120 hours per week in IB, almost similar or even better pay dollar for dollar, and the freedom to do a startup or side projects whenever. Happy to stay!!
Why would you do this to yourself. Consulting and IB are very different btw. At least in consulting you won't have to work weekends but still 60h a week
I’ve just done my research and it looks like I’m better off as a SWE. Great work life balance unlike the 120 hours per week in IB, almost similar or even better pay dollar for dollar, and the freedom to do a startup or side projects whenever. Happy to stay!!
Doubt you will get into investment banking
IB never layoff 😂😂😂😂😂😂 You’re already rejected from any career in ibd. You can’t make any basic research about it apparently
@ OP - Who told you that a career in IB pays better than a career in SWE? Can you show us the numbers with expected working hours factored in?
IB definitely pays better in the long run. Millions if you stick it out for 6 years.
I thought you decided against it because of work hours you have to put in for those 6 years?
Good luck
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SWE is turning into IB where there are multiple rounds of layoff
It was bound to happen because it’s been too good for too long and now it’s priced in. Same thing happened to finance in the 80-90s and 2010s